Citcon Closes $30 Million Series C

<p><strong>SAN JOSE<&sol;strong> &&num;8212&semi; Citcon&comma; a mobile wallet payment provider that connects businesses worldwide&comma; has received &dollar;30 million in Series C financing led by Norwest Venture Partners and Cota Capital&period; Sierra Ventures and Sonae IM also joined the round&period;<&sol;p>&NewLine;<p>The new funding will support the hiring of additional staff and global expansion that builds on the company’s international presence on four continents&period;<&sol;p>&NewLine;<p>Founded in 2015&comma; Citcon’s platform enables seamless global commerce at scale by connecting the world’s businesses with more than 100&plus; mobile wallets&comma; local and alternative payment methods&period; Citcon integrates with POS and ecommerce systems such as Toshiba&comma; Oracle&comma; Cegid&comma; Shopify and SAP and is currently deployed at more than 30&comma;000 merchants&&num;8217&semi; sites&period;<&sol;p>&NewLine;<p>&&num;8220&semi;Citcon enables global commerce at scale by allowing merchants to accept payments by mobile wallet and alternative currencies with the same ease as they process traditional credit card payments today&comma;” said Chuck Huang&comma; CEO and founder at Citcon&period; &&num;8220&semi;We are honored to have earned the support of incredible investors that will strengthen our efforts to continue driving innovation and global expansion&period;&&num;8221&semi;<&sol;p>&NewLine;<p><b><&sol;b>Moving into the final half of 2021&comma; Citcon says its annualized payment volume is more than &dollar;1 billion&comma; representing 300&percnt;&plus; year-on-year growth&period; With the acceleration of cross-border commerce and evolving consumer preferences&comma; Citcon&&num;8217&semi;s offerings strongly resonate with global merchants&comma; as well as domestic companies seeking to serve global customers&period; Citcon payment solutions are currently deployed at more than 30&comma;000 merchants&&num;8217&semi; sites and locations&comma; including  brands such as L’Oreal&comma; Tumi&comma; Texas Instruments&comma; Revolve&comma; Macy’s&comma; and Panda Express&period;<&sol;p>&NewLine;<p>Citcon&&num;8217&semi;s global enterprise payments gateway allows merchants to participate in global commerce by enabling secure online or in-store transactions with more than 100 different payment methods&comma; including mobile wallets&comma; local payment schemes&comma; and traditional credit cards &&num;8212&semi; all through one single integration and reconciliation platform&period; Citcon’s solution integrates a variety of globally popular digital wallet brands including PayPal&comma; Venmo&comma; AliPay&comma; WeChat Pay&comma; as well as buy now pay later services&comma; cryptocurrency&comma; and more&period;<&sol;p>&NewLine;